Penyu Basin

PETRONAS, ADNOC, and Storegga have entered into a Joint Study and Development Agreement to explore offshore carbon capture and storage (CCS) opportunities in Malaysia’s Penyu Basin. The collaboration is focused on evaluating the potential of saline aquifers and developing CCS infrastructure—covering CO₂ shipping logistics, geophysical and reservoir modeling, and advanced technologies like artificial intelligence to optimize capacity. The aim is to achieve at least 5 million tonnes per annum (Mtpa) of CO₂ storage capacity by 2030.